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    </table><p class="style24"><img src="images/WFHedgeFunds11.gif" width="150" height="150" alt=" World Finance" longdesc="images/WFHedgeFunds11.gif" /> <br>Most Innovative Fund<br>of Funds in the World</p></td>
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    <td bgcolor="#00865F" class="green_block">Performance Since Inception</td>
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                  <td width="50">&nbsp;</td>
                  <td width="46"><div align="right"><strong>Jan</strong></div></td>
                  <td width="46"><div align="right"><strong>Feb</strong></div></td>
                  <td width="46"><div align="right"><strong>Mar</strong></div></td>
                  <td width="46"><div align="right"><strong>Apr</strong></div></td>
                  <td width="46"><div align="right"><strong>May</strong></div></td>
                  <td width="46"><div align="right"><strong>Jun</strong></div></td>
                  <td width="46"><div align="right"><strong>Jul</strong></div></td>
                  <td width="46"><div align="right"><strong>Aug</strong></div></td>
                  <td width="46"><div align="right"><strong>Sep</strong></div></td>
                  <td width="46"><div align="right"><strong>Oct</strong></div></td>
                  <td width="46"><div align="right"><strong>Nov</strong></div></td>
                  <td width="46"><div align="right"><strong>Dec</strong></div></td>
                  <td width="63"><div align="right"><strong>Annual</strong></div></td>
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                  <td class="text"><div align="center"><strong>2011</strong></div></td>
                  <td><div align="right">2.78</div></td>
                  <td><div align="right">1.74</div></td>
                  <td><div align="right">1.65</div></td>
                  <td><div align="right" class="text_red">-0.29</div></td>
                  <td><div align="right"><span class="text_red">-4.25</span></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right">1.48%</div></td>
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                  <td class="text"><div align="center"><strong>2010</strong></div></td>
                  <td><div align="right">1.78</div></td>
                  <td><div align="right">0.33</div></td>
                  <td><div align="right">11.13</div></td>
                  <td><div align="right">2.60</div></td>
                  <td class="text_red"><div align="right">-11.69</div></td>
                  <td><div align="right">0.36</div></td>
                  <td><div align="right">5.95</div></td>
                  <td><div align="right">0.03</div></td>
                  <td><div align="right">8.62</div></td>
                  <td><div align="right">2.50</div></td>
                  <td><div align="right">0.63</div></td>
                  <td><div align="right">4.53</div></td>
                  <td><div align="right">23.48%</div></td>
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                  <td class="text"><div align="center"><strong>2009</strong></div></td>
                  <td><div align="right"><span class="style25">-7.94</span></div></td>
                  <td class="text_black style25"><div align="right">-1.13</div></td>
                  <td><div align="right">5.88</div></td>
                  <td class="text_black"><div align="right">6.10</div></td>
                  <td class="text_black"><div align="right">12.54</div></td>
                  <td class="text_red"><div align="right">-1.46</div></td>
                  <td class="text_black"><div align="right">5.42</div></td>
                  <td class="text_black"><div align="right">5.30</div></td>
                  <td class="text_black"><div align="right">9.31</div></td>
                  <td class="text_black"><div align="right">5.22</div></td>
                  <td class="text_black"><div align="right">5.50</div></td>
                  <td class="text_black"><div align="right">3.03</div></td>
                  <td class="text_black"><div align="right">52.69%</div></td>
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                  <td class="text"><div align="center"><strong>2008</strong></div></td>
                  <td class="text_red"><div align="right">-2.99</div></td>
                  <td class="text_black"><div align="right">4.19</div></td>
                  <td class="text_red"><div align="right">-0.51</div></td>
                  <td class="text_black"><div align="right">1.20</div></td>
                  <td class="text_black"><div align="right">3.43</div></td>
                  <td class="text_red"><div align="right">-0.97</div></td>
                  <td class="text_red"><div align="right">-5.00</div></td>
                  <td class="text_red"><div align="right">-7.76</div></td>
                  <td class="text_red"><div align="right">-20.53</div></td>
                  <td class="text_red"><div align="right">-27.59</div></td>
                  <td class="text_red"><div align="right">-10.67</div></td>
                  <td class="text_red"><div align="right">-5.83</div></td>
                  <td><div align="right" class="text_red">-55.78%</div></td>
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                  <td class="text"><div align="center"><strong>2007</strong></div></td>
                  <td class="text_red"><div align="right">-0.93</div></td>
                  <td class="text_black"><div align="right">1.66</div></td>
                  <td class="text_black"><div align="right">2.85</div></td>
                  <td class="text_red"><div align="right">-0.43</div></td>
                  <td class="text_red"><div align="right">-1.94</div></td>
                  <td class="text_black"><div align="right">2.95</div></td>
                  <td class="text_black"><div align="right">2.63</div></td>
                  <td class="text_red"><div align="right">-1.54</div></td>
                  <td class="text_black"><div align="right">2.95</div></td>
                  <td class="text_black"><div align="right">4.30</div></td>
                  <td class="text_black"><div align="right">0.50</div></td>
                  <td class="text_black"><div align="right">2.58</div></td>
                  <td class="text_black"><div align="right">16.68%</div></td>
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                  <td class="text"><div align="center"><strong>2006</strong></div></td>
                  <td class="text_black"><div align="right">14.29</div></td>
                  <td class="text_black"><div align="right">8.43</div></td>
                  <td class="text_black"><div align="right">0.09</div></td>
                  <td class="text_black"><div align="right">6.72</div></td>
                  <td class="text_red"><div align="right">-10.11</div></td>
                  <td class="text_black"><div align="right">0.23</div></td>
                  <td class="text_black"><div align="right">1.71</div></td>
                  <td class="text_black"><div align="right">3.46</div></td>
                  <td class="text_red"><div align="right">-2.65</div></td>
                  <td class="text_black"><div align="right">2.30</div></td>
                  <td class="text_black"><div align="right">5.53</div></td>
                  <td class="text_black"><div align="right">5.38</div></td>
                  <td class="text_black"><div align="right">39.01%</div></td>
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                  <td class="text"><div align="center"><strong>2005</strong></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td><div align="right"></div></td>
                  <td class="text_black"><div align="right">0.00</div></td>
                  <td class="text_red"><div align="right">-1.30</div></td>
                  <td class="text_black"><div align="right">5.71</div></td>
                  <td class="text_black"><div align="right">4.17</div></td>
                  <td class="text_black"><div align="right">13.12</div></td>
                  <td class="text_black"><div align="right">13.43</div></td>
                  <td class="text_red"><div align="right">-5.55</div></td>
                  <td class="text_black"><div align="right">8.33</div></td>
                  <td class="text_black"><div align="right">8.69</div></td>
                  <td class="text_black"><div align="right">55.08%</div></td>
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              <p><span class="text">*All figures in percentages after all fees and expenses</span></p>
              <p><span class="text">For any comments or suggestions, or to be added to the distribution list for the AAM Russian Long Equity Fund Index, please contact: <a href="mailto:index@tera.ru">index@tera.ru</a></span> </p>
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